Inventory management database

The purchase of an in-house inventory management system in the hospital will increase inventory management, reduce the inefficiencies in the dispensation of medication dispensing errors by and increase patient satisfaction rates by 75% with no increase in costs associated with operations it reduces the dependence on manual operations.

Activity Ten- Acquisition Strategy Statement

Acquisition Strategy Statement

Inventory Management Database

Submitted by ……………………………………………………………………………….on

1.      Proposal summary

The inventory management database has been deemed necessary for the facility as means of addressing the challenges that have become synonymous with the dependence on manual operations. Some of these issues revolve around the increased medical errors, poor client satisfaction as well as the costs of time wasted in the use of manual processes that translate into huge losses for the facility. 

The risk that has been posed by poor client satisfaction is going to be resolved via the adoption of the inventory management database as it will not only reduce the cases of medical disbursement errors but also improve the inventory management that will translate into superior productivity (Wang & Watada, 2011). Overall, the integration of the platform enhances the satisfaction of our clients, which will consequently translate into superior performance by the facility.

The Market Research

The planned market research encompasses the assessment of the individuals and contractors with the capacity to provide the healthcare facility with the needed in-house inventory management database. The core issues that will be addressed is in the assessment of the value that is going to be created by the acquisitions and additionally assessing for the contractor who promises to deliver on this value. The issue of benefit combination is additionally going to be an assessment regarding borrowing capacity, via the leveraging of the cash resources and the shared purchasing power. Ease of the transfer of skills from the contractor will further be a factor in the selection.

Use of Competition

To enhance the competitiveness of in the acquisition process, the healthcare facility is going to advertise the tender specifications on an assortment of platforms to ensure that as many contractors with the specialized skills access the information (Poveda & Lipsett, 2011). Further, the duration for filling the bidding process will be extended to ensure that all the parties have adequate time to comply with all the specifications of the process.

Potential Sources

Potential contractors will be pipe drive, Zoho CRM, Contactually as well as Traction Complete

Contract Type

The contract to be used is the Cost plus Fixed Fee refers to the type whereby all allowable costs are paid while the fee is the same despite the costs. The estimated cost, as well as the fee, could be subject to concession considering the issues that emerge in the execution of the contract (Larsen-Freeman & Long, 2014).

Contract Incentives and Penalties

The incentives to be included in the contract include the sharing of savings with the contractor if they help the facility reduced its operational costs by 50%, rewarding them for completing tasks satisfactorily ahead of the set timeline and for exceptional performance. The penalties shall include financial fines for failing to meet deadlines and ensuring that they pay for any tasks that surpass the deadlines (Adler & Scherer, 2011).

Risk Assessment

The risks that are associated with the adoption of the platform include the possible execution of fraud and ease in tampering with patient records. Issues of accuracy as well as technological failures and lack of timely access to the stored data are some of the risks that will be assessed.  These challenges will be resolved via the use of adequate backups as well as the execution of security management measures to resolve cases of unauthorized data access (Romney & Steinbart, 2012). The main risks associated with the Cost plus Fixed Fee is the fact that cases of lack of visibility furthermore transparency could arise among the assorted stakeholders. The risk can be resolved by the project team ensuring that they monitor all activities relating to the contract as the bid activity and subcontractor communications.

References

Adler, T. R., & Scherer, R. F. (2011). A multivariate investigation of transaction cost analysis dimensions: do contract types differ?. Journal of Applied Business Research (JABR), 15(3), 65-80.

Larsen-Freeman, D., & Long, M. H. (2014). An introduction to second language acquisition research. Routledge.

Poveda, C. A., & Lipsett, M. (2011). A review of sustainability assessment and sustainability/environmental rating systems and credit weighting tools. Journal of Sustainable Development, 4(6), 36.

Romney, M. B., & Steinbart, P. J. (2012). Accounting information systems. Boston: Pearson.

Wang, S., & Watada, J. (2011). Two-stage fuzzy stochastic programming with Value-at-Risk criteria. Applied Soft Computing, 11(1), 1044-1056.

Carolyn Morgan is the author of this paper. A senior editor at MeldaResearch.Com in custom research paper services. If you need a similar paper you can place your order from urgent essay writing service.